Electrolux aims at implementing strict norms and efficient processes to ensure that all operations create long-term value for shareholders and other stakeholders. This involves the maintenance of an efficient organizational structure, systems for internal control and risk management and transparent internal and external reporting.

Founded in Sweden in 1919 by entrepreneur Axel Wenner-Gren, Electrolux has shaped living for the better for 100 years by reinventing what great taste, care and wellbeing experiences mean for our consumers. This is our story.

Hans Stråberg to leave Electrolux and is succeeded by Keith McLoughlin as President and CEO

September 23, 2010

Hans Stråberg has notified the Board that he wishes to leave Electrolux. The Board has appointed Keith McLoughlin new President and CEO as of January 1, 2011.

Mr. McLoughlin is today responsible for R&D, Manufacturing and Purchasing for Electrolux Major Appliances. He was previously head of Electrolux Major Appliances North America and joined Electrolux in 2003.

“After nine fantastic years as President and CEO, 13 years in Group Management and 27 years in the company, I want to do something new,” says Hans Stråberg. “I will now work with a portfolio of growth companies as well as continue to develop my board assignments. This was not an easy decision to make, but I consider my mission accomplished. We have undertaken a major transformation of Electrolux into a global consumer-driven company, and over the last four quarters we have achieved our target operating margin of 6 %”.

Marcus Wallenberg, Chairman of the Electrolux Board, says, “I respect that Hans after his nine years as CEO wants to move on, although I’ll be sorry to see him go. Under his leadership, Electrolux has successfully transformed and strengthened its position, and the market value of Electrolux has doubled. Electrolux is now well positioned to face the future. I enjoy our business relationship and am looking forward to continue working with Hans on other assignments in the future”.

“The Board is pleased that Keith McLoughlin will take the baton,” continues Mr. Wallenberg. “His focus will be to continue executing the Electrolux strategy. Keith has been deeply involved in developing and implementing the strategy, has turned around the Electrolux North American major appliances operations and has already today a major global responsibility.”

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Electrolux is a leading global appliance company that has shaped living for the better for more than 100 years. We reinvent taste, care and wellbeing experiences for millions of people, always striving to be at the forefront of sustainability in society through our solutions and operations. Under our brands, including Electrolux, AEG and Frigidaire, we sell approximately 60 million household products in approximately 120 markets every year.

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